Monday, June 13, 2016
#AAPL Bias & Levels Update for Monday June 13, 2016 by @mocktrade
AAPL continues to
have issues getting and holding above 100
following the Warren Buffett headline from almost a full month ago, which the
chart is telling me AAPL
is very likely now on its way to 95.50-95.30 zone
while/if holding below 98.45 with 100 as the line in sand (LIS) for
sellers. I am also thinking that if not for the FOMC rate decision this week
the auction is definitely suggesting a 93s/92s
retest (93.95 & 92.40) before making another attempt to
get/hold back above the key 100
level.
While waiting on FOMC rate decision AAPL may also consolidate between 100s and 95s; if so the
move to 93s/92s may not come until after rate decision, which I would prefer rather than occurring before
rate decision in order to confirm a solid bullish bias in the weeks ahead. If 93s/92s area does not hold post FOMC rate
decision I will expect odds to be more in favor for AAPL heading to 82s
before the very important 76s/75s target area.
Currently I am holding a new AAPL Strangle with a Jan 2017 expiration which was engaged last week for the FOMC
rate decision. If the bearish scenario just mentioned does play out to the 76s/75s area I will most likely be buying
with both hands once/if reached, or if AAPL
reacts positively to the FOMC rate decision I will ideally then like to see AAPL with a daily close above the
first key low volume area (LVA) at 102s-104s
zone to increase the potential for the Call side of the Strangle reaching its primary objective with AAPL getting/holding
above 110 before yearend.
Ethan Premock
Futures & Options Strategist
Hamzei Anlytics, LLC
Futures & Options Strategist
Hamzei Anlytics, LLC
Monday, June 13, 2016 S&P 500 Futures #PreMarket Comments by Michael Blythe @FairValueTrader
Good morning! Worldwide equity markets have continued to show weakness in Monday’s session pushing the ESU16 lower to the 2086 area this morning. The June quadruple witching tends to lead toward bullish stats and today begins the week with a very light calendar and and globex volume back to normal after last week’s roll.
The charts show some price breakdown, however IMO bears have not proven anything at this time, thus, room remains for dip buying. I go into this week with a neutral bias, looking to buy dips, as long as the June 2074 NFP print holds.
Support comes in at 2079 (*) intraday then strong at 2074 (***), below 2074 I don’t have any specific price to lean on today to buy. To the upside, 2082 (*) comes in at initial resistance, followed by the 2085 (*) price and then Friday’s POC at 2088 (**). Above that will be 2097 (**) and 2100 (**).
Without a bias, I don’t have any price targets yet this week but hopefully after today’s trade the picture may be clearer.
Subscribe to:
Posts (Atom)
Disclaimer and Terms of Service
© Copyright 1998-2023, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34112, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.
